Interest-free loan for 15 years: what is known about the new program of the Cabinet of Ministers
11 February 23:57
The Cabinet of Ministers of Ukraine is introducing a new financial support mechanism for citizens who have been forced to change their place of residence due to emergency situations. This involves one-time interest-free loans to help them settle into their new homes. This was announced by Ukrainian Prime Minister Yulia Svyrydenko, according to "Komersant Ukrainian".
Up to 50 minimum wages per family
According to the head of government, the program provides for:
- a one-time interest-free loan of up to 50 minimum wages per family (about 430,000 hryvnia);
- a repayment period of up to 15 years;
- interest to banks will be compensated by the state, so the loan will be interest-free for recipients.
This will enable families to receive long-term financial support without additional credit burden.
What the funds can be spent on
The money received may be used for:
- purchasing property;
- purchasing household items;
- purchasing necessary equipment;
- creating adequate living conditions in new housing.
In fact, this is about the opportunity to quickly restore basic living conditions after a forced move.
How to obtain an interest-free loan
To take advantage of this support, one of the adult members of the family must submit an application and a certificate of recognition as a victim to the local authority at their new place of residence after evacuation.
After reviewing the documents and approval, the funds are paid by an authorized bank selected through a competitive process.
Who is eligible for the program
The Prime Minister emphasized that the program applies to all types of emergencies provided for by Ukrainian law. This applies to both the consequences of military actions and other extraordinary events.
In the near future, the Ministry of Internal Affairs of Ukraine will publish detailed explanations regarding:
- the application procedure;
- the list of required documents;
- the algorithm for receiving funds.
Long-term support for displaced persons
The introduction of interest-free loans should become part of the systemic support for citizens affected by emergencies. The state will compensate banks for interest in order to make the mechanism as accessible as possible for families who have lost their homes or been forced to move.
The program is expected to help thousands of families adapt to their new circumstances more quickly and return to normal life.
